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Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
 If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentiment changes in the blink of an eye. Regulations, tariffs, sanctions, you name it, all play their part. For some, volatility provides opportunities and possibilities to speculate and invest. For others volatility only prolongs the uncertainty and adds to the fatigue. Either way this is the current reality and there are no signs that things will change and become more predictable.
It is widely accepted that shorter cycles are here to stay. Orderbooks and scraping do play a role but sentiment and trade agreements are in the driver's seat. In an industry that is 100% capital intensive to begin with, now more than ever the need for quick reflexes is imperative.
Shorter cycles that span anywhere from 6 to 18 months mean that the opportunity to make money for shipowners is heavily dependent on the price they paid to acquire or build the asset. With that being said the term “asset play” gains a different meaning. The ability to be able to sell or buy an asset when opportunity arises will be very important to the survival let alone the prosperity of a shipping company. Asset play will become more complex and more structured. An early sign of this is last year's import regulations that China implemented that very quickly created a sub-market segregating Tier I and Tier II ships within each size segment.
Don't get me wrong, the way a company operates or charters their assets will still always be the main source of income and will stay at the core of the business model separating the good from the very successful, but the ability to let go of an asset or the capacity to buy an asset due to an opportunity, will give a significant edge to anyone that can do it.
In a market environment that financing remains scarce, expensive and for many still not easily accessible all of the above is easier said than done. But you can’t or at least you should not ignore where things are heading.
More than ever before, this industry is being led by people that know shipping or at least are willing to have a long presence in shipping. The outlanders that entered - or invaded for some - the previous years have either switched focus or have taken the back seat after years of failing to predict the market, realizing that liquidity is not easily achieved when all things go south.
All in all, as long as newbuilding ordering is rational and mostly driven by need of new tonnage and reasonable speculation, over-supply will stay in check, adjust and eventually cease to exist and in my humble opinion shorter cycles will play a role to that. For a shipping company this will make the need for increased SnP activity vital. We are moving towards an industry that will be even faster paced going forward, with new possibilities to be explored and new boundaries, technological and operational to be pushed. With the BDI currently at very low levels it is only logical that we cannot see the forest for the trees, but the forest is there and it is full of opportunities.
By Timos Papadimitriou
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the mar ...
Monday, 03 December 18
WCA'S ENGAGEMENT AT COP24 IN KATOWICE - WCA
The 24th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) will take place from the 2-14 December 2018 in K ...
Monday, 03 December 18
SUPRAMAX: FIXED DELIVERY KALIMANTAN TO WEST COAST INDIA, AT $11000 - THE BALTIC BRIEFING
Capesize
A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week ...
Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Economic Council, Georgia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- The University of Queensland
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
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